RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of CNMD
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Red day on Thursday for CONMED Corporation stock after losing 0.0749%
(Updated on Mar 28, 2024)

Hold candidate since Mar 27, 2024 Loss -0.07% PDF

The CONMED Corporation stock price fell by -0.0749% on the last day (Thursday, 28th Mar 2024) from $80.14 to $80.08. During the last trading day the stock fluctuated 2.11% from a day low at $79.54 to a day high of $81.22. The price has fallen in 6 of the last 10 days but is still up by 1.74% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -105 thousand shares and in total, 408 thousand shares were bought and sold for approximately $32.66 million.

The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $80.85 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -30.81% during the next 3 months and, with a 90% probability hold a price between $48.79 and $55.94 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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CNMD Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, March 21, 2024, and so far it has risen 6.26%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CONMED Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $81.23. On a fall, the stock will find some support from the short-term average at $77.30. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for CONMED Corporation stock

CONMED Corporation finds support from accumulated volume at $76.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.68 between high and low, or 2.11%. For the last week, the stock has had daily average volatility of 2.51%.

Our recommended stop-loss: $76.54 (-4.42%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (CNMD) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect CONMED Corporation to open at $80.28, and during the day (based on 14 day Average True Range), to move between $77.87 and $82.29, which gives a possible trading interval of +/-$2.21 (+/-2.76%) up or down from last closing price. If CONMED Corporation takes out the full calculated possible swing range there will be an estimated 5.52% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $80.91 (1.04%) than the support at $76.41 (4.58%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is CONMED Corporation stock A Buy?

CONMED Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.380 Hold/Accumulate Unchanged

Predicted Opening Price for CONMED Corporation of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$80.28 ( 0.250%) $80.08

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for CNMD

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 81.96 2.35 %
R2 81.32 1.55 %
R1 80.92 1.05 %
Current price: 80.08
Support S1 79.64 -0.552 %
S2 79.24 -1.05 %
S3 78.60 -1.85 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 91.08 13.74 %
R2 83.76 4.60 %
R1 80.91 1.04 %
Current price 80.08
Support S1 76.41 -4.58%
S2 76.09 -4.98%
S3 75.36 -5.89%

CNMD Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Mar 14, 2024 Mar 14, 2024 Apr 05, 2024 $0.200 0.250%
2 Dec 04, 2023 Dec 15, 2023 Jan 05, 2024 $0.200 0.187%
3 Aug 10, 2023 Sep 14, 2023 Oct 05, 2023 $0.200 0.207%
4 May 24, 2023 Jun 14, 2023 Jul 05, 2023 $0.200 0.152%
5 Feb 27, 2023 Mar 14, 2023 Apr 05, 2023 $0.200 0.189%

FAQ

What is the symbol for CONMED Corporation Stock and on which exchange is it traded?
The symbol for CONMED Corporation is CNMD and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell CONMED Corporation Stock?
CONMED Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

How to buy CONMED Corporation Stock?
CONMED Corporation Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy CONMED Corporation Stock.

What's the current price of CONMED Corporation Stock?
As of the end of day on the 2024-03-28, the price of an CONMED Corporation (CNMD) share was $80.08.

What is the 52-week high and low for CONMED Corporation Stock?
The 52-week high for CONMED Corporation Stock is $138.42 and the 52-week low is $74.67.

What is the market capitalization of CONMED Corporation Stock?
As of the 2024-03-28, the market capitalization of CONMED Corporation is 2.465B.

When is the next earnings date for CONMED Corporation?
The upcoming earnings date for CONMED Corporation is Apr 24, 2024.
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About CONMED Corporation

CONMED CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. It offers orthopedic surgery products, including TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and PopLok Knotless Suture Anchors, which provide unique clinical solutions to orthopedic surgeons for the repair of soft tissue injuries, as well as suppor... CNMD Profile

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